Major downtrend in SPX

13 de jun. de 2022

After almost two years of market exuberance due to central banks' unconventional actions, the SPX has recently entered a major downtrend which has just started.

The index has just formed a top under a major resistance and its next target is the major support level around 3200.
The RSI Exhaustion confirms the same analysis, in fact, there's no evidence of divergence and the indicator is currently "bullish exhausted" meaning that a bull run from here is extremely unlikely.

Remember to do your analysis, be patient and always look for confirmation from the indicators.